the howls we re hearing from some lawmakers, it sounds like we might be. on the right, there s chip roy, congressman from texas. i m going to have some blunt conversations with my colleagues and the leadership team. i don t like the direction they are headed. freedom caucus member bob goode of virginia saying i m concerned about rumors that a deal will raise the limit more than we want. senator mike lee from utah, i will use every procedural tool at my disposal to impede a debt ceiling deal that doesn t contain substantial spending and budgetary reforms. on the left, there s the progressive caucus chair who says i think the backlash were to be significant if we are bullied into a bad deal. cori bush of missouri, it won t be helpful to biden re-election if he slashes funding on things like education. and jim clyburn who says the president should negotiate, negotiate, negotiate and then use the 14th amendment to pay the bills unilaterally if time runs out. it may sound like w
Progress. We are not there yet, but tremendous progress, and everyone just needs to be patient. Perhaps tomorrow will be a bright day. Were not there yet. We hope it will be. Let me echo the remarks of the majority leader. Weve had a good day, had a good day yesterday, had another good day today. I think its safe to say weve made substantial progress. That rare display of bipartisan harmony. The very latest pronouncement from reid and mcconnell about negotiations came just about 90 minutes ago. Earlier today, the duo engaged in a similar attempt at soothing everyones collective nerves. Im very optimistic that we will reach an agreement thats reasonable in nature this week. I deeply appreciate my friend, the minority leader, for his diligent efforts to come to an agreement. Let me just echo the remarks of my good friend, the majority leader. Weve had an opportunity over the last couple of days to have some very constructive exchanges of views about how to move forward. A 3 00 p. M. Meet
i think this is very, very difficult to predict. there are huge sums of money coming in and out of the treasury department every day. tens of billions of dollars. i think having covered what happened in 2011 versus now like in 2011, geithner was the treasury secretary and said this is the day we re going to default. if congress doesn t act and a new debt limit is not raised by that date, we ll default. we came within 48 hours of an actual default. in this case, janet yellen warned about an economic catastrophe, as has the white house, but she s never said the default will happen this day. there s always been a little always been a little wiggle room here. this has made republicans suspicious to saying she hasn t been transparent, she hasn t told us what s going on. really what is the x date? what s the real date? so, i do think there are the
Over a month after formally announcing the plan, Treasury Secretary Timothy Geithner yesterday released details on his proposal for removing toxic assets from the balance sheets of banks and other financial institutions.
Clearly, the single most important challenge for the Obama administration and the new Congress is to revive our ailing economy. Our arcane tax code, apparently too complex even for two of the government's most important tax officials - House Ways and Means Committee Chairman Charles Rangel and Treasury Secretary-Designate Timothy Geithner - should be the primary target of all that pent-up legislative energy on Capitol Hill. Now's the ideal time to comprehensively reform our tax system.